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MTBS3D RT @GetImmersed: Dr. Ofer Shai is the Director of Omnia AI at @DeloitteCanada. He talked about the misconceptions about #ArtificialIntellig
MTBS3D RT @GetImmersed: The use of #futurecomputing in #healthcare was one of the prominent tracks at #Immersed2018, and we got to see some really…
MTBS3D RT @GetImmersed: Ricardo Wagner, Director of Product Marketing for #Office365 at @microsoftcanada, talked about their efforts to make moder…
MTBS3D RT @GetImmersed: Pascal Langlois, Founder of Collective Intent, talks about the potential of using motion capture technologies to re-enable…
MTBS3D RT @GetImmersed: David Parker, Founder of @teamwishplay, talked at #Immersed2018 about how they are using #immersivetechnologies like #Virt
MTBS3D RT @GetImmersed: Richard Huddy, Head of the Game Ecosystem at the Samsung Research Institute (UK), was the second keynote at #Immersed2018.…
MTBS3D RT @GetImmersed: .@JoanneAska, Co-Founder of @TribeOfPan, talks about @TheChoice_VR their innovative #VR project that addresses the topic o…
MTBS3D .@ArozziChairs makes high-end #gaming chairs and tables. Scott Nishi, Sales Manager for Arozzi, spoke to us at… https://t.co/4U4LyU1SJn
MTBS3D .@pimaxofficial interview from #CES2019 includes news about their latest #5K and #8K #HMDs, eye tracking and new co… https://t.co/mmgw69jRTa
MTBS3D .@HP unleashes the #VR dinosaurs at #CES2019. 🦕 🦖 https://t.co/Ufed2K99F5 https://t.co/Rd5irCXzMZ
MTBS3D Today’s interview is with Jan Ludvig from @SenseArena. Jan was a professional #NHL #hockey player. He talked about… https://t.co/3fT7zWGmyI
MTBS3D Chia Chin Lee of, CEO of @BigBoxVR talks Population One at #CES2019. #VR #eSports https://t.co/xfIWYboVkQ https://t.co/3pW2AEPaxG
MTBS3D At #CES2019 we met with Rikard Steiber, President of #HTCViveport, and he talked about their new @htcvive Pro Eye,… https://t.co/WjugF0l5gJ
MTBS3D We met with Ryan McCall, Director of Strategy and Business Development for @UL_Benchmarks at #CES2019. He talked ab… https://t.co/lo8HZkYs5p
MTBS3D .@OmronAutomation talked about their ping pong playing robot at #CES2019. 🏓🤖 #Robotics #technologyhttps://t.co/SvdLiCYlbZ
MTBS3D MSI showcased their latest 17" GS75 Stealth laptop computer and talked about the availability of #VR readiness in t… https://t.co/3UrISM7nWK

Oculus VR Acquired by...Facebook?


MENLO PARK, CALIF. – March 25, 2014 – Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share).  The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.

Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company's virtual reality headset, the Oculus Rift. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus’ existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas.  Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.

"Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow," said Facebook founder and CEO, Mark Zuckerberg. "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," said Brendan Iribe, co-founder and CEO of Oculus VR. "We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it's only just the beginning."

Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its ground-breaking virtual reality platform.

The transaction is expected to close in the second quarter of 2014.